PWAV To See Healthy Demand In 2010

Analysts at Jefferies & Co upgrade Powerwave Tech (NASDAQ: PWAV) from "hold" to "buy," while raising their estimates for the company. The target price for PWAV has been raised from $1.50 to $3.00.

PWAV had reported its Q1 results significantly below expectations. “PWAV will likely see good demand in 2010 as wireless operators increase capacity. In the downturn, Powerwave lowered its cost structure and will likely see operating leverage as demand returns. Recent refinancing has also improved NT liquidity.”

Jeffries & Co has raised its 2011 EPS estimate from $0.13 to $0.16. More Analyst Ratings here